Jeera Futures Fell Sharply On Tuesday

Jeera futures fell sharply on Tuesday due to profit booking at higher levels by the market participants on anticipation of good sowing progress in Gujarat and Rajasthan. However, tight supplies and fresh export enquiries kept the spot prices higher. NCDEX Dec’16 Jeera closed 3.15% down to close at Rs 18,590 per quintal. Jeera sowing in Gujarat and Rajasthan have started. As on 21st Nov, Jeera sowing in Gujarat is completed in around 99,100 hectares as compared to last year acreage of 17,400 hectares,. The stock position in NCDEX warehouse is at lower level compared to last year stocks. As on 28-Nov-2016, new Jeera stock position at NCDEX approved warehouses in Jodhpur and Unjha is totaled at 177 tonnes while it was 743 tonnes last week. Last year stocks were about 5,633 tonnes. -

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